John Van Wambeke Involved in Investor Dispute
John Van Wambeke (CRD #:729864), a broker and investment advisor registered with Ameriprise Financial Services, is involved in an investor dispute, according to his BrokerCheck record, accessed on March 10, 2022.
According to the allegations filed on November 12, 2021, John Van Wambeke failed to timely or appropriately update the beneficiaries on his client’s ex-husband's accounts in 2013. The case is still pending.
FINRA Rules 4511 and 2010
FINRA requires firms to maintain accurate records. FINRA Rule 4511 states that firms "shall make and preserve books and records as required under the FINRA Rules, the Exchange Act and the applicable Exchange Act rules." FINRA Rule 4511 applies to customer account information, communications between brokers and investors, as well as records of written customer complaints.
By allegedly failing to timely his client’s accounts, John Van Wambeke also violated FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
According to the allegations filed on March 16, 2020, John Van Wambeke failed to follow his client's instructions to move her portfolio to cash in February 2020. The investor was seeking $39,583.10 but the firm denied the case.
It is the duty of a broker to perform a customer's orders promptly in a manner best suited to serve the customer's best interest. Failure to follow customer instructions violates FINRA Rule 2010, which requires all registered members to observe high standards of commercial honor and just principles in their business dealings.
When a broker fails to follow your instruction and/or execute your order promptly, you may be able to recover your investment losses resulting from a failure to follow your instructions.
John Van Wambeke has passed the following exams:
- Series 63 - Uniform Securities Agent State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
- Series 22 - Direct Participation Programs Representative Examination
- Series 6 - Investment Company Products/Variable Contracts Representative Examination
John Van Wambeke is a registered broker in four states. He is also a registered investment advisor in Michigan.
Besides Ameriprise Financial Services, John Van Wambeke has also worked with IDS Life Insurance Company (CRD#:6321) and IDS Financial Services (CRD#:6320).
Kurta Law Can Help
If you have worked with John Van Wambeke and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or email@example.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Please reach out if you have any questions about what steps to take next to recover your investment losses.